Ryan Company deposits all cash receipts on the day they are received and makes all...
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Accounting
Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $29,361 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit 3,650 Outstanding checks 1,431 Additionally, a $49 check written and recorded by the company was incorrectly recorded by the bank as a $94 deduction. The adjusted cash balance per the bank records should be: Multiple Choice $31,625 $31,580 $24,325 $31,535 $34,487
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